Cory Vieira Sells 2,140 Shares of Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CAO Cory Vieira sold 2,140 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.01, for a total value of $32,121.40. Following the sale, the chief accounting officer owned 18,179 shares in the company, valued at $272,866.79. The trade was a 10.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pagaya Technologies Stock Up 10.7%

PGY traded up $1.50 on Thursday, hitting $15.46. 6,807,756 shares of the company were exchanged, compared to its average volume of 3,905,624. Pagaya Technologies Ltd. has a 12 month low of $10.40 and a 12 month high of $44.99. The company has a market cap of $1.28 billion, a PE ratio of 14.45 and a beta of 5.35. The company has a debt-to-equity ratio of 1.25, a quick ratio of 12.09 and a current ratio of 12.09. The stock’s fifty day moving average is $13.30 and its 200-day moving average is $16.90.

Pagaya Technologies (NASDAQ:PGY) last released its earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%.The company had revenue of $91.63 million for the quarter. Equities research analysts predict that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on PGY. Jefferies Financial Group lowered their price target on Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Citigroup lowered their price target on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Benchmark lowered their price target on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Canaccord Genuity Group reissued a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a research report on Monday, May 18th. Finally, Weiss Ratings downgraded Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pagaya Technologies presently has an average rating of “Buy” and an average price target of $33.11.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently made changes to their positions in PGY. Millennium Management LLC grew its position in Pagaya Technologies by 75.2% during the fourth quarter. Millennium Management LLC now owns 1,738,760 shares of the company’s stock worth $36,340,000 after buying an additional 746,216 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Pagaya Technologies by 26.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock worth $17,871,000 after buying an additional 359,099 shares in the last quarter. Two Sigma Investments LP grew its position in Pagaya Technologies by 5.2% during the third quarter. Two Sigma Investments LP now owns 1,452,578 shares of the company’s stock worth $43,127,000 after buying an additional 71,639 shares in the last quarter. Renaissance Technologies LLC grew its position in Pagaya Technologies by 27.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,354,064 shares of the company’s stock worth $28,300,000 after buying an additional 290,379 shares in the last quarter. Finally, Nuveen LLC grew its position in Pagaya Technologies by 3.7% during the fourth quarter. Nuveen LLC now owns 1,299,274 shares of the company’s stock worth $27,155,000 after buying an additional 46,536 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.